S. 92C : Transfer pricing-Arm’s length price-Not a question of law to be considered by High Court-Remanding the matter in second round of appeals will be as if it was a shuttle game between the assessee and the Revenue Authorities-Tribunal is directed to decide the issue within six months from today. [S. 37(1), 254(1), 260A]

S. 92C : Transfer pricing-Arm’s length price-Direction by Dispute Resolution Panel-Writ Petition is not maintainable against such direction. [Art. 226]

S. 92C : Transfer pricing-Arm’s Length Price-CBDT Instruction No. 3 of 2003 Mandatory-Precedent. [S. 92CA]

S. 92C : Transfer pricing-Arm’s length price-Net margin method-Finding of fact-No question of law. [S. 94B, 260A]

S. 57 : Income from other sources-Deductions-Fixed deposits- Interest payment for earning income is held to be deductible. [S. 56, 57(iii)]

S. 54F : Capital gains-Investment in a residential house-Purchase or construction need not be made out of sale consideration for capital asset. [S. 45]

S. 45 : Capital gains-Unabsorbed depreciation-Set off against long-term capital gains is permissible-Block of assets-Sale of land and building-Land and building valued separately-Held to be proper. [S. 2(11), 32(2), 71, 72, 73]

S. 43(5) : Speculative transaction-Hedge against loss-Exporter of cotton entering into forward contracts-Loss Incurred-Not a loss in speculative transaction -Entitled to deduction of loss. [S. 28(i)]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Banking facilities available-No evidence of compelling circumstances justifying payments-Disallowance is justified. [R. 6DD]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-No reasonable cause to make payment- Disallowance is held to be justified. [R. 6DD]